PARAGUAY

Strong growth momentum, despite still-challenging external environment

B2

MEDIUM RISK for enterprise

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

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GDP USD38.145bn (World ranking 97, World Bank 2019)
Population 7.045mn (World ranking 104, World Bank 2019)
Form of state Constitutional Republic
Head of government Mario Abdo Benítez (President)
Next elections 2023, presidential and legislative
  • A contained fiscal budget and public debt
  • Low current account deficit
  • Ample foreign exchange reserves
  • The government pursues business-friendly policies
  • The economy is highly dependent on the agricultural sector and weather conditions
  • One of the poorest countries in Latin America with high inequality and sub-standard infrastructure
  • Wide informal economy
  • Low diversification of the economy
  • High level of corruption, criminality and poor rule of law

Trade structure by destination/origin

(% of total)

Exports Rank Imports
Brazil 28%
1
27% China
Argentina 11%
2
24% Brazil
Russia 9%
3
15% Argentina
Chile 7%
4
7% United States
Italy 4%
5
2% Japan

Trade structure by product

(% of total)

Exports Rank Imports
Oil seeds and oleaginous fruits 24%
1
12% Petroleum, petroleum products and related materials
Electric current 21%
2
10% Telecommunication and sound recording apparatus
Meat and meat preparations 15%
3
9% Road vehicles
Feedstuff for animals (excluding unmilled cereals) 13%
4
5% Miscellaneous manufactured articles, n.e.s.
Cereals and cereal preparations 7%
5
4% Electrical machinery, apparatus and appliances, n.e.s.

Contact

Euler Hermes

Economic Research Team

research@eulerhermes.com

Georges Dib

Economist for Latin America, Spain and Portugal

georges.dib@eulerhermes.com

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